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Longwait........I think the majority will be very happy once RG is completely out and wouldn't be bothered if he never bought back in.
We have seen what damage can be inflicted on the SP once a big holder starts offloading so on a personal note i don't want him back in
If those two 10,000 share trades today are RG's, then he is still selling, although not every day.
He bought most of his holding for about 68p, and some of it at 57p.
If he drives the price down much further, and continues selling, he will be selling at a loss.
Maybe he's planning to reinvest some of his profits in JOG, when it bottoms, and start the climb all over again.
Two reasons why we are not seeing many Buys
1) RG Still selling it would appear
2) Coronavirus
Until these are out the way then i don't see a move up just yet
'It was my birthday last week and [my wife] bought me a suitcase. Should I be worried?... It's as if everyone is pretending the oil doesn't exist.'
I wouldn't worry about the suitcase, DU, unless your wife pretends that YOU don't exist!
The SP is now below the level it was at when it opened after the RNS about the licence awards.
It's down 66 percent from the subsequent high and, based on a possible 50 percent farm-out of all its assets, at a discount of 96 percent to NAV.
The market really is irrational.
........Ajax - I meant the palace you'll own by then. I haven't got a helicopter either (yet.....).
LW - if I had any spare cash I might buy more, but 'when' is the dilemma for those fortunate enough to be in a different position to me. I'm full up anyway. I daren't ask the wife for any more - she's fed up enough with me as it is after persuading her to put JOG in her SIPP when they were about £2. It was my birthday last week and she bought me a suitcase. Should I be worried?.
I'd be averaging up, not down, as I bought most of my holding between about 8p and 30p back in 2016 and I added more when they were about 65p early last summer. I agree with your general sentiment though and would probably have already bought more - who would have thought the market would continue to ignore JOG's resources to the extent it has - regardless of the fact RG has been unloading? It's as if everyone is pretending the oil doesn't exist.
What's happening presently isn't very nice and many holders will naturally be worried. All I can offer is that JOG's fundamentals haven't changed and it's business as usual back at the ranch. We might learn something positive when the 2019 results are announced (May or earlier) but the real game changer will be opening the data room and taking onboard a partner (or partners). Seems likely to be late summer, but I'm not counting on this timescale because delays are common in the oil game. Should be this year though.
The above is just my take on things. Always dyor
GLAL
I have nothing more than a Trailer Tent at this moment in time nevermind a luxury static in Skeggy ......Dick.....( LOL )
Longwait......I do intend purchasing more shares but everyday it drops a little more on concerns of the Coronavirus so it's just a case of when do i average down ?... now or do i wait a little longer.
At some point this will turn and in my view we will see a strong rally northwards not just in here but across the markets once the concerns of the virus ease off
'If you believe in the JOG story, all you can logically do is to sit still and grimace.'
There is one thing one can do - finances permitting - and that is average down.
If you then top slice on a strong recovery, you can in effect exchange the shares you bought at a much higher price for the ones you bought low and still retain the same interest (mathematical ability permitting).
You're supposed to feel like you do, Ajax. The world's hedge funds and investment banks are filling their boots as PIs suffer - it's par for the course.
JOG is caught up in it all and there's also a seller causing an overhang. A double whammy.
Aside from JOG, I have difficulty believing individual PIs are selling in any volume at present levels (the FTSE 100 is the same as it was in 1999). Pension fund managers don't mind lending stocks though. They're supposed to be holding these on trust for the beneficial owners (who don't know what's going on and certainly wouldn't give their consent to having their shares trashed). The fund managers get to bank the lending fees so they're ok. The hedge funds and investment banks get all the shares they want to sell short into markets that don't want them, causing more panic. When their work is done (and they've bought them back at a profit) the trashed stocks get returned to the fund managers and slipped back into the funds they're supposed to be managing, worth a lot less than when they were lent. To say it's bent would be flattering. Ever wondered why investment returns are so poor when funds are supposed to managed by expert stock pickers? Fund performance should be trouncing the FTSE index but it rarely does.
Funny how we've heard nothing from the FCA about temporarily banning shorting in order to mitigate the effects of the global panic, Then again the Govt is always short of cash and it has to come from somewhere; mustn't interfere with its take from the City.
We're all in the same boat, Ajax. If you believe in the JOG story, all you can logically do is to sit still and grimace. Nothing lasts forever, although there are times when it doesn't feel like this.
I've made a note to come and visit you (by helicopter) in your palace at Skegness in a couple of years time (might wait until about May) to mull over the rocky road we've travelled these past few years (assuming I'm still alive).
GL
dyor
Did anyone put a Plan B in place for this global financial meltdown we are facing ?
If this continues my holdings will be of Zero value eventually.
I'll be very honest here i am actually very concerned now but i know all i can do is just ride this storm out like everyone else but it's certainly no good for my health right now
GL